Ross, Phoebe, Rachel and Joey (the friends) also live in an apartment with a coin operated gas meter. Each one of them puts a value on the benefit from heating, as shown below: Total number of $1 coins Temperature in apartment Total benefit to Jess inserted in meter (degrees Celsius) (willingness to pay in dollars) 10 0 1 15 3 2 19 5 3 21 5.50 4 23 5.50 a. Draw a line, similar the one in part 2b above, showing the combined marginal benefits (that is, marginal benefits to Ross + marginal benefits to Phoebe ...) of each dollar spent on heating. What is the optimal temperature to heat the apartment to? b. Draw a diagram, similar to the one in the irrigation project example from chapter 2, showing the net benefits Phoebe receives from putting a coin in the gas meter when one other person has contributed a coin already, two other people have contributed already, etc C. How warm do you think the friends' apartment is going to be? Explain. (Note: there's no single right answer to this question - I'm looking for understanding of concepts and quality of explanation) d. A developer builds a new apartment building. In this new apartment building, the cost of heating is included in the rent. The rent is $4 per day more than in the building with the coin operated gas meter. The developer guarantees that the apartments will be heated to a temperature of 21 degrees, and will pay for the friends' moving expenses. Do you think the friends will move to the new apartment? Explain your answer (again, there is no single right answer to this question)